Surprise announcement as Spanish government does away with FiTs "temporarily" #energy #renewable

The Spanish government made a surprise announcement on Friday revealing that feed-in tariffs (FiTs) for new special regime installations will be suspended "temporarily". The administration said that the measure was intended to "temporary halt a compensation system that involves costs that are too high for the electricity system, causing a continuous rise in the tariff deficit". Optimistically, the Moncloa said that the Royal Decree approved on Friday "will not jeopardise supply security or meeting renewable targets in the European Union". The Government has also said that "it does not affect facilities in operation or those already included in the pre-allocation registers". The argument put forward by the Administration to justify the suspension is "the complex economic and financial situation [in which Spain finds itself] and the state of the electricity system," which, s...